Lisi Group Acquires Majority of TermaxDecember 1, 2017
Lisi Group, Paris, France, announced that it has entered into a binding agreement to acquire 51 percent of the share capital of Termax Corp., Lake Zurich, IL, a manufacturer of fastening systems for automotive interiors. Lisi Automotive, a division of Lisi Group, serves as a supplier and development partner for automotive OEMs and Tier One suppliers of fasteners and components. The acquisition will expand Lisi Automotive’s presence to the North American market.
The transaction is a two-step structured acquisition, with Termax shareholders committing to sell 51 percent of the company’s share capital to Lisi Automotive now and the rest of the remaining shares by the fiscal year 2021, at which point Lisi Automotive will own 100 percent of the share capital of Termax. Termax will be consolidated with the Lisi Group upon close of the first step (expected by the end of this year).